If you haven’t yet had a deal go bad, I can promise you that it’s coming. You’re going to have a deal that’s ready to close, but the title isn’t clear, or you’re going to have a house fire that turns everything on its head. Chris Arnold is one of our coaching students, and after just five months, he’s already got some epic stories.
Chris had lined up a solid deal with an absentee landlord when a tenant’s barbecue grill caused a disaster that sent everyone scrambling. Suddenly Chris had to figure out if the house was salvageable, while he was fighting off the wholesalers who specialize in the fire.
The magical phrase that Chris uses for buyers and sellers to keep the deal flow going is “What’s it going to take?”. Listen to how he uses the relationship he’s built with the seller to help everyone walk away feeling like they won.
If you’re a wholesaler who’s making a lot of offers, then you’re guaranteed to see some bad deals. Don’t sell yourself short by offering too low and watching your profit get whittled away as unexpected expenses crop up. Chris suggests you double-check your numbers after the seller accepts, but before you sign the contract. But no matter what, you have to keep your word to the seller, even if you only make a thousand dollars. Your reputation as a wholesaler is on the line.
I love Chris’s enthusiasm for real estate and his go get ‘em attitude. If you’d like to work with Chris, you can contact him at firstname.lastname@example.org. Get today’s episode, and all of the notes and resources from my other Deals Gone Bad episodes by texting the word “BAD to 313131.
Watch and Learn:
Listen and learn:
- How Chris keeps his marketing momentum going.
- A few ways you can use other wholesalers to find deals and leads.
- What to do when a property catches on fire.
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